Alto Metals Ltd (ASX:AME) has commenced fieldwork and is preparing for a 5,000 metre drilling campaign at the Sandstone Gold Project in Western Australia.
The recent grant of five exploration licences covering 720 kilometres encompassing the majority of the Sandstone Goldfield has allowed Alto to commence exploration.
Alto’s objective at Sandstone is to discover mineral resources containing at least one million ounces of gold and to establish a profitable mining operation.
Since the discovery of gold at the end of the 19th century, the Sandstone Greenstone Belt has produced 1.3 million ounces of gold from numerous underground and open pit mining operations.
Of these, circa 612,000 ounces were produced between 1994 and 2010 from the open-pit mining of shallow oxide ore by Herald Resources Ltd and Troy Resources Ltd (ASX:TRY).
The numerous former open pits, prospects and gold occurrences acquired by Alto include Lady Hamilton, Lord Nelson, Lord Henry, Havilah, Bull Oaks Reef, Vanguard, and Bulchina.
The company will commence an induced polarisation geophysical survey at the multi-target Lady Hamilton area this week.
The results of the Lady Hamilton survey will be used to define drill targets in the primary zone (fresh rock) and, by association, the overlying oxide zones.
Additionally, a 10,000 line kilometre high-resolution airborne magnetic survey is planned to provide complete coverage of the company’s Sandstone Project area.
Alto’s maiden 5,000 metres drilling program will commence in mid to late October to initially test a number of high-priority shallow oxide targets and deeper primary gold targets.
The company’s share price has increased by about 491% since the start of 2016, last trading at $0.13.
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